Renovated 5-Unit Apartment
For Sale
$995,000
Pending
1109 NW 6th Avenue Unit 1-5, Pompano Beach, FL 33060
RM-20 multifamily property with central A/C, impact-resistant openings, and updated building systems throughout.
Property Size3,269 SF
Days on Market43
Property Features for 1109 NW 6th Avenue Unit 1-5
General Information
Standard status
Pending
Size
3,269 SF
Property subtype
Multi Family
Units
Unit Mix
4 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
5
Building Details
Year Built
1984
Listing Agency:
Fausto Commercial Realty Consultants Inc
(786) 748-7373
Listed By:
Arun Mohan · License #3623582
(931) 319-7072
Source:
Lehmannflorida
Added: Jul 22
Changed: Sep 2
Last Checked: Sep 2 at 5:57PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Fausto Commercial Realty Consultants Inc
Investment Insights
Based on property information with market context.
This 5-unit apartment building in Pompano Beach was built in 1984 and comprehensively renovated. The unit mix includes four 2-bedroom, 1-bath apartments and one 1-bedroom, 1-bath apartment. Improvements include updated plumbing and electrical systems, central A/C throughout, impact-resistant windows and doors, new flooring, refreshed kitchens and bathrooms, updated fixtures, contemporary lighting, and fresh interior paint. Exterior work was also completed as part of the renovation program.
The property is located at 1109 NW 6th Avenue in Pompano Beach, within the RM-20 zoning district. Nearby luxury developments and the $2 billion Downtown Pompano Beach redevelopment are identified as surrounding investment and development activity. The asset is presented with an 8%+ cap rate and a fully renovated five-unit configuration.
The property is located at 1109 NW 6th Avenue in Pompano Beach, within the RM-20 zoning district. Nearby luxury developments and the $2 billion Downtown Pompano Beach redevelopment are identified as surrounding investment and development activity. The asset is presented with an 8%+ cap rate and a fully renovated five-unit configuration.
Key Highlights
- Five‑unit apartment building with four 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
- Comprehensively renovated with updated plumbing, electrical, kitchens, bathrooms, flooring, fixtures, lighting, and paint
- Central A/C throughout the property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,217
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,004,340
$1.0M
Cap Rate 7%
$717,386
$717.4K
Cap Rate 9%
$557,967
$558.0K
Market Conditions
NOI Build-Up for 3,269 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$96.1K $29.40/SF
− Vacancy
−$4.8K −$1.47/SF
EGI
$91.3K $27.93/SF
− OpEx
−$41.1K −$12.57/SF
NOI
$50.2K $15.36/SF
Area
Pompano Beach, FL
Vacancy
5.00%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,004,340
Cap Rate 7%
$717,386
Cap Rate 9%
$557,967
Alternative Uses
Best Use
Apartment 5plus
$717.4K
$627.7K – $837.0K
NOI $50,217 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.12M – $1.49M
NOI $89,244 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
835
Businesses Nearby
Explore this area
Business Placement
Demographics for 33060, FL
35,793
Population
15,653
Households
2.3
Avg Household Size
39
Median Age
25%
College-Educated
82%
High-School Grad
7.0 sq mi
ZIP Area
5,113
Density / Sq Mi
$59,757
Median Household Income
$34,275
Median Earnings
$1,406
Median Rent
$354,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - RM-20 multifamily property with central A/C, impact-resistant openings, and updated building systems throughout.
Where is this apartment building located?
The property is located at 1109 NW 6th Avenue Unit 1-5 Pompano Beach, FL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Five‑unit apartment building with four 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit; Comprehensively renovated with updated plumbing, electrical, kitchens, bathrooms, flooring, fixtures, lighting, and paint; Central A/C throughout the property
